Automaker General Motors says its goal is to double its yearly revenue to $280 billion before the end of the decade. The automaker has averaged around $140 billion in revenue over the past few years.  But last year, the company’s revenue had fallen 10.8 percent to $122.5 billion, mainly...
Wells Fargo has paid $37 million in a settlement with the government after a Justice Department lawsuit accused the bank of overcharging more than 770 businesses. The lawsuit alleged that the San Francisco-headquartered financial institution told businesses they were charged fixed rates but then charged them more than they...
Mastercard, one of the world’s leading credit card issuers, has announced that it will be offering a program similar to one of the latest and more popular methods of payments to cater to consumers, the "Buy Now, Pay Later" trend. The Purchase, New York-based financial services corporation will offer...
Microsoft has announced that they will be adding a feature similar to a walkie-talkie to its cloud-based Teams phone service. The company hopes it will help it compete better with Zoom as the competitor doesn’t have a similar feature. Teams will also be getting some of the current features...
Consumers everywhere have become familiar with the ongoing chip shortages, impacting the availability of everything from new automobiles to video game consoles and even smartphones.  According to AlixPartners, a global insights and consulting firm, the semiconductor chip shortage may cost the worldwide auto industry upwards of $210 billion in revenue...
Royal Dutch Shell has announced a $9.5 billion cash deal to sell all of its assets that are located in the Permian Basin. The West Texas oil giant made the deal with ConocoPhillips and is expected to close during the last quarter of 2021. Around 225,000 net acres comprise the...
Giant search engine and technology company Google plans to purchase the New York City office building it currently leases for $2.1 billion. According to Real Capital Analytics and The Wall Street Journal, the purchase would be the most expensive commercial buy since the pandemic’s beginning. The building is known...
The FDIC unveiled an investment fund that is geared towards supporting minority-owned banks. Two anchor co-investors have been identified in support of the fund -- Microsoft and Truist Financial. Each company has invested tens of millions in helping to launch the fund. The mega-media company, Discovery also supported the...
U.S. sales last month for Detroit automaker Ford were 33.1 percent lower than last year amid a massive semiconductor chip shortage across the world. The lack of chips is devastating the automotive industry. The company’s adjusted selling rate was 13.09 million vehicle sales last month. It marked Ford’s worst...
Art Hogan, the Managing Director and Chief Market Strategist for the National Securities Corporation, has raised his end-of-the-year target for the S&P 500. Hogan oversees and manages $34 billion in assets at the corporation. He is bullish on the stock index for the 500 biggest publicly traded companies in...